President Obama’s proposed “Buffett rule” tax on Americans earning more than $1 million a year would only raise $31 billion in revenue over 11 years according to new numbers from Congress’ official tax analysts.
Sen. Sheldon Whitehouse, D-R.I., recently introduced legislation implementing Obama’s Buffett rule in the Senate and the Associated Press obtained a copy of the Joint Committee on Taxation estimate of the legislation today. Contacted for a copy of the report, the JTC said it was private score and would not be made public unless requested by Sen. Whitehouse.
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